Scorpio Tankers Inc. has announced that the President of the Company, Robert Bugbee, has purchased call options on 100,000 common shares (or 1,000 call option contracts) of the company with a strike price of $33.00 and an expiration of January 2020 for the consideration of $265,000.
Scorpio Tankers is a provider of marine transportation of petroleum products worldwide. The company currently owns or finance leases 124 product tankers (42 LR2 tankers, 12 LR1 tankers, 56 MR tankers and 14 Handymax tankers) with an average age of 3.7 years and bareboat charters-in 10 product tankers (three MR tankers and seven Handymax tankers). In addition, the company will bareboat charter-in four MR tankers that are currently under construction and are scheduled to be delivered in 2020 (two in January, one in March, and one in September).
SOURCE: Press Release